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Cementir Holding

CR
Bloomberg   CEM IM
Cement & Aggregates  /  Italy  Web Site   |   Investors Relation
Also operates in : Holding Companies
A niche strategy in a heavy industry
Target
Upside 38.9%
Price (€) 15.46
Market Cap (€M) 2,460
Perf. 1W: -0.13%
Perf. 1M: -1.15%
Perf. 3M: 17.1%
Perf Ytd: 49.6%
10 day relative perf. to stoxx600: 0.38%
20 day relative perf. to stoxx600: 1.35%
NAV Change15/01/2025 11:27

Change in NAV€ 14.7 vs 11.9+22.9%

We have revised our valuation method for the company’s Turkish asset, shifting from a multiple based on cement capacity to the market value of the asset, as it is publicly listed under the name Çimentas Izmir. Cementir Holding owns 96.7% of Çimentas Izmir, which now accounts for 44% of its NAV.



Change in DCF€ 16.9 vs 14.9+13.1%

We have lowered our long-term expectations for green capex for Cementir Holding, as its CCS project with Air Liquide has been selected for a grant by the EU Innovation Fund. We believe this CO2 reduction investment could enable the company to gradually decrease its green investment requirement over time.



Updates

12 Nov 24 Earnings/sales releases
Q3 24: Volumes appear to have passed the tro...

31 Jul 24 Earnings/sales releases
H1 24: the recovery is yet to come

13 May 24 Earnings/sales releases
Q1 24: a rebound is expected in the H2

13 Feb 24 Earnings/sales releases
FY 23: A conservative look to the future

08 Nov 23 Earnings/sales releases
Q3 23: Conservative guidance

31 Jul 23 Earnings/sales releases
H1 23: positive price-cost spread

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